You might have heard of top YouTube channels like Ryan’s World or Jake Paul making millions from YouTube. If you’re wondering how you too can make money off this website where people spend so much time on, this article is just for you.
Surprisingly, earning money on YouTube is not as hard as one imagines. If you’re ready to put in consistent effort and follow the strategies mentioned below, you too can make a decent amount on YouTube.
Most amateur YouTubers rely only on ad revenue to make money on YouTube. But to be honest, ad revenue is not the most lucrative way if you’re aiming to make it big.
Here are a few other ways in which you can accomplish your dream of making good bucks on YouTube.
Become a YouTube Partner
YouTube Partner Program is the way for regular YouTubers to get access to special features on the platform. While you can start earning by simply setting up an AdSense account, the YouTube Partner Program opens a lot more doors for you.
YouTube partners have access to multiple income streams other than ads, including YouTube premium subscription fees, super chat, channel membership, and the merchandise shelf. However, to make it to the partner program, you’ll need a minimum of 1000 subscribers and 4,000 watch hours.
To meet these criteria, it’s essential to continue creating engaging content and increase your channel’s reach. A good YouTube video editor can help you create great content and rapidly grow your follower base.
Create Sponsored Content
Most businesses are on the look for Youtube channels with large followers to grow their business. So once you’ve garnered a substantial following on YouTube, a few brands are likely to reach out to you for the promotion of their products.
If you already have a particular brand in mind you’d like to promote, you can reach out to them yourself. However, be careful to endorse only those products that you sincerely care about and want to recommend to your viewers.
Sell Products or Merchandise
There are plenty of products or merchandise that you can sell through your channel for additional revenue. T-shirts, coffee mugs, tote bags, and snapbacks are some easy to sell, profitable merchandise. Jeffree Starr has made millions selling lipstick, highlighters, and eye shadow palettes to his fans.
Selling merchandise has a benefit beyond revenue. In addition to an online presence, you’ll also have offline exposure which will deepen the connection with your audience. YouTube partners can sell up to 12 items of merchandise to their audience.
Selling a physical product can be challenging for new YouTubers. You may require to buy materials or find a manufacturer. Instead, you can try selling downloadables such as e-books or art prints. Make sure to have a secure payment system in place before you advertise your products.
Turn to Crowdfunding
If you have a great idea for your next project but lack the fund to execute it, crowdfunding is the way to go. Whether you need help covering your production costs or building an ongoing revenue, soliciting donations is now commonplace.
HOW TO: Embed Part Of An YouTube Video
There are many crowdfunding sites available online. For recurring funding, Patreon is a top choice. Meanwhile, sites like GoFundMe or Kickstarter are best for one-off campaigns.
Consider shooting a video detailing the specifics of your project so that funders know exactly what they can expect from you. You can further offer enticing perks to them in return for their donation.
Let Your Fans Support You Through Fan Funding
Like crowdfunding, fan funding is another way to generate money on YouTube. While crowdfunding platforms target a general crowd for donations, fan funding especially solicits funds from loyal audiences who enjoy your work.
You can get started with fan funding by joining a dedicated platform. Patreon and Tipeee are the most popular ones which provide tools for creators like you to get recurring, long term support from your fans. You can also get your fans to fund you directly through YouTube via channel membership.
Super Chat and Super Stickers are other additional YouTube features that allow you to make money online. They let fans tip you for pinning their comments and animated graphics, respectively.
Some Best YouTube Practices
To increase your chance of attracting a large follower base, and in turn, increase your revenue, here are some best YouTube practices you must follow.
Try to Make Your Videos 10+ Minutes Long
Videos that are longer than 10 minutes have a higher chance of generating money through ad revenue. Longer videos are more likely to have a higher watch-time. This makes them appear higher up in YouTube’s search result which leads to even more views.
Another way of increasing the watch-time of your videos is by creating fantastic intros. The introduction is the key element of any video. It builds a strong base at the beginning and keeps viewers engaged throughout. Try InVideo’s easy YouTube intro maker to create sizzling intros that hook your audience immediately.
Create Engaging and Informative Content
The attention span of a millennial is hardly 12 seconds. Bad editing or no editing can cause them to click away from your video in no time. Unless you entertain them or provide them some value, they are not likely to watch the full video or come back for more in the future.
You can easily enhance the quality of your video by adding text, images, graphics, music, and more. All you need is a good online video editor. Edit online for free and save your precious time and money.
Collaborate with Other YouTubers
The one tactic that many popular YouTubers make use of is collaborating with other YouTubers. Not only will it open your content to a whole new audience, but you’ll also get to learn a lot from fellow YouTubers.
Last But Not the Least, Have Patience
It might take months and even years for YouTube to become your steady stream of passive income. It’s crucial not to lose patience during this time and keep posting good quality videos consistently. You’ll get there soon!